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Lattice reports that 85% of companies admit they must improve pay equity, with 39% saying they must do so by “a lot.” Using a good compensation plan template can provide both an organization and its employees with important information and clarity on their compensation and benefits packages, supporting pay equity.
This article discusses the importance of a detailed compensation plan template and how you can use it to benefit your company’s workforce. It also includes a free downloadable template to help you get started.
Contents
What is a compensation plan?
What is a compensation plan template?
Key elements of a good compensation plan template
7 steps